Recommendation: BUY 0…
USD/JPY: bulls prepare to fight
TP1 107.85 TP2 108.15
On the daily chart, USD/JPY after reaching 127.2% target of AB=CD, bulls managed to take the pair out of the downtrend channel. Formation of “Wolfe waves” pattern will increase the odds of correction towards at least 107.85.
On H1, there are “Wolfe waves” and the “Shark” patterns. Their targets, including 113% of the “Shark” point at 108.15. A break of resistance at 107 will increase the possibility of advance to that levels.
On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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